ThinkorSwim announces: CollabRx, Inc. (NASDAQ: CLRX) shares climbed 104.39% to $2.33 after the company reported that it has regained compliance with the Nasdaq on $1 minimum bid price.
Setup - Press Release Breakout - long
On the daily chart - CLRX had been running the upper Bollinger Band for over a week but the last 4 days in a row it's been flushed and crushed. This stock was not on my watch list, but it popped up on morning scan as a big morning gainer, so I decided to trade it on the long side
Intraday (5-min) - it had a nice run at the bell, then some selling on a much lower volume. It kept riding the vwap and 9 EMA was coming from below. I entered when it formed a nice bullish flag on increase in buying volume. I actually traded it 3 times. First trade had a small gain but I got stopped with the spike down. I got back in and kept scaling on the B/O, and tried for the third time, but got out with a small loss.
Entry: $2.26, $2.31, and $2.53
Stop: allowed a 10c loss
Target: $2.50 initially, then moved up to $2.70
Sold into the spikes
Execution detail:
Thanks Kushio! That's the part of the game when I go long :)
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nice work buying the lower part of the ranges